Do Banks Use Ripple
It is abundantly clear that crypto currencies have slowly started to make their way into the regular transactions that people make to make purchases. No one would have predicted that after the crypto currency boom that happened some years back that people would be using crypto currencies to carry out their transactions. Initially, everybody thought that bitcoin would reign supreme in the future because of how profitable it once used to be. However, bitcoin has never been able to reach its former prime that made it famous in the first place. Now, there are tons of crypto currencies out there with various newer ones on the horizon as well. Whether the new ones prove to be as good as bitcoin or any other crypto currency for that matter remains to be seen. However, the crypto currencies that we do have besides bitcoin are also quite useful as well. Some of these currencies are dashcoin, altcoin, ethereum and Ripple.
Ripple in particular has gained quite a bit of steam in the recent years. For those of you who do not know what Ripple is, it is essentially an RTGS which is the short form for real time gross settlement. This RTGS is internet based and is a system that aims to make revolutionary changes to the payment systems that we have nowadays. Ripple’s platform is also quite unique when you compare it to the tons of other platforms out there. It is essentially an open source consensus ledger, internet protocol and native digital currency which goes by the name of XRP. That being said, Ripple stands out from all the other crypto currencies because of one reason in particular, and that is, it is way more than just a simple crypto currency.
We all live in a generation that is highly dependent on various types of technologies. Look around you and you will notice that there is a gadget and software for even the most simple of things. However, one area where there has not been as much progress is the payment systems that we have. It really feels like the whole world is still following the systems of payment that were used during the previous century. So, it is safe to say that there has not been much progress in the area of processing payments.
Do Banks Use Ripple
Since Ripple is the crypto currency that stands out the most a lot of users have a common question regarding it. They want to know if there are any banks that use Ripple. Well, the answer to that is really simple. Yes, banks do indeed use Ripple. However, these banks are very far and few. There is a bank that goes by the name of Euro Exim Bank that is famous for its use of the Ripple crypto currency. It is a UK based Bank.
There are also plenty of other banks like Transpaygo that have started to accept Ripple. However, despite the presence of some banks that accept Ripple, a lot of progress has to be made regarding Banks and Ripple.